FEMA (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2012 - Amendment in Schedule II

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....ge Derivative Contracts) (Amendment) Regulations, 2012 - Amendment in Schedule II G.S.R. 608(E).- In exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, ....

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....II may enter into foreign currency - rupee swaps for hedging the transient capital flows relating to the Initial Public Offers (IPO) under the Application Supported by Blocked Amount (ASBA) mechanism, subject to such terms and conditions as may be stipulated by the Reserve Bank from time to time." (ii)  after paragraph '4', the following new paragraph shall be inserted and th....